The Government Invests INR 5000 Crore in SWAMIH Fund 1

Mumbai:

The government has invested more than INR 5000 crore in the SWAMIH investment Fund-1, which is supported by SBICAP enterprises and supports strained housing developments in the low and middle-income categories. This is one of the greatest funds collected in India during the last several years.

Fund for social impact records a final closure of INR 15,530 Cr

The finance ministry sponsors the fund, which is administered by SBICAP Ventures, a State Bank Group subsidiary. Alongside Life, State Bank of India is also one of the fund's anchor investors.India's Insurance Corporation (LIC). Among its most important investors are the mortgage lender HDFC and big nationalised banks.

Suresh Koz-hikote, managing director of SBICAP Ventures, said that the State Bank Group would continue to offer the execution skills necessary to completely execute this important government programme in India.

"We take great delight in being able to continually accomplish new milestones in our mission to provide relief to homebuyers and, in doing so, contribute to strengthening investments in the real estate market with complete openness and efficiency."

According to him, the enhanced government contribution demonstrates trust in the execution capabilities of SBICAP Ventures, as the investment manager, and the whole SWAMIH Investment Fund 1 team.